USD/JPY is facing a resistance trend line from 115.50 to 114.49 once again. A break through the trend line resistance could trigger further upside movement towards 115.50. Above this level will confirm that the downside movement from 118.66 (Dec 15, 2016 high) had completed at 107.31 already and the long term uptrend from 98.97 (Jun 24, 2016 low) has resumed.
Then the following upside movement could take price to next resistance level at 118.66. Near term support is at 111.47, only a breakdown below this level will suggest that the uptrend from 107.31 is complete, then the pair would find support at 109.50.
